Sen. Thomas Cullerton

Filed: 3/9/2017

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 1434

2    AMENDMENT NO. ______. Amend Senate Bill 1434 on page 2, by
3replacing lines 25 and 26 with the following:
4    "Rental purchase agreement" means an agreement for the use
5of merchandise by a consumer for personal, family, or household
6purposes for an initial period of 4 months or less that is
7automatically renewable with each payment after the initial
8period and that permits the consumer to become the owner of the
9merchandise."; and
 
10on page 5, immediately below line 24, by inserting the
11following:
 
12    "Section 16. Distribution of taxes. The proceeds from the
13tax imposed under this Act shall be distributed as follows: 20%
14shall be deposited into the State and Local Sales Tax Reform
15Fund and 80% shall be deposited into the General Revenue
16Fund."; and
 

 

 

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1on page 6, by replacing lines 2 through 5 with the following:
2"the Use Tax paid during the 12 months immediately prior to the
3effective date of this Act. Within 18 months after effective
4date of this Act, the merchant must file an application (upon a
5form prescribed and furnished by the Department) to receive a
6credit for the Use Tax paid on"; and
 
7on page 6, line 13, by replacing "liability" with "imposed
8under this Act"; and
 
9on page 6, immediately below line 13, by inserting the
10following:
 
11    "Section 21. Exemptions. This Act does not apply to
12tangible personal property which is required to be titled and
13registered by an agency of this State's government."; and
 
14on page 23, line 20, after "Act.", by inserting "This paragraph
15is exempt from the provisions of Section 3-90."; and
 
16on page 43, line 16, by replacing "Paragraph" with "paragraph";
17and
 
18on page 43, by replacing lines 22 and 23 with the following:
 

 

 

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1    "Section 99. Effective date. This Act takes effect January
21, 2018.".